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CITY OF COLTON <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF AUGUST 19, 2003 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />FROM: Dilu De Alwis, Finance Director <br />SUBJECT: Annual Appropriation Limit <br />DATE: August 12, 2003 <br />Item #5 <br />BACKGROUND: <br />On November 6, 1979, the voters of California added Article XIII -13 to the State Constitution <br />placing various limitations on the appropriations of state and local governments. Each year the <br />City must calculate its annual limit by adjusting the previous year's limit by changes in the cost of <br />living and population. <br />DISCUSSION/ANALYSIS: <br />The City's appropriation limit for fiscal year 2003-2004 is $41,377,411. The appropriations subject <br />to limitation are $12,257,328 (see schedule B). Therefore, the City is under its limit by <br />$29,120,083 (see schedule A). As a result, there is no possibility of the City needing to refund <br />any taxes previously collected. <br />FINANCIAL IMPACT: <br />None. <br />ENVIRONMENTAL IMPACT: <br />None. <br />CONFLICT OF INTEREST — Gift Disclosure Requirements <br />None. <br />RECOMMENDATION: <br />In order to comply with Article XIII -13 of the State Constitution, staff recommends Council approve <br />the calculation of the 2003-04 annual appropriations limit (as set forth in attached Schedules A <br />and B) by adopting the attached Resolution. <br />Attachment: Schedules A and B <br />Resolution <br />Prepared by: Lorraine Armstrong <br />IEW TE Y <br />A:!ttorne Finance Director: <br />Manager: OTHER: <br />